Today, millions of individuals are faced with serious debt and damaged credit due to the economic crisis that has caused the loss of jobs and a significant increase in the cost of living. As a result, more and more companies are taking advantage of desperate individuals by offering them credit repair services and debt solutions of which, unfortunately, many of them are scams or illegal. The Credit Repair Organizations Act (CROA) which was passed in 1997 issued specific guidelines and regulations that many of these companies fail to follow. In fact, there are only two states - Idaho and Louisiana - that require a credit repair company to obtain a license in order to operate.

Unfortunately, reputable credit repair organizations that do follow the guidelines according to the Credit Repair Organizations Act, charge as much as one thousand dollars to rebuild your credit. However, anyone who takes a little time and effort can utilize the exact same methods that as these companies to repair their credit for just the cost of a few phone calls and postage stamps. The first step to repairing your credit is to find out exactly where you stand as far as your credit score which can now be obtained for free once per year as required by law from the three major credit bureaus.

It is essential that you carefully review your credit report for errors as it has been estimated that as many as two out of three credit reports contain errors including late payments, unpaid balances on credit cards that were never owned, and bankruptcies that were never filed. These can be eliminated from your credit report which will increase your credit score significantly by filing a dispute with the credit bureau. If you would to learn more about how you can rebuild your credit on your own, you can do so by visiting us today!